How to live mortgage-free while building wealth by house-hacking.
House-hacking is how I ended up getting into real estate in 2002. The first home I bought was a three-bedroom, two-bathroom home. I got a 30-year mortgage on it and I rented out two of the rooms. I had $1,200 per month coming in, which offset my mortgage. I was essentially living for free.
It was a little difficult having roommates, but was it worth it because I was able to claim that $14,000 of extra income I was getting per year on my taxes. Then I went to the bank and they approved me for more properties. I ended up buying four more homes and renting them out as well.
There are different types of house-hacking. You could buy a duplex , rent out one of the units, and live in the other, for example. You could also buy a two-acre property, build another house on the land, and rent that out to offset the mortgage.
If you’d like to know more about how house-hacking works and want to do a no-obligation consultation, please reach out to us. We’re also here to answer any real estate-related questions that you might have.